ABOUT THE NEW TALENT ALLIANCE
The Consumer Duty Alliance launched the New Talent Alliance (NTA) on 25 March 2024. It brings together many of the sector’s leading academies, training organisations, recruiters and qualification bodies with the aim of reshaping talent acquisition and development within the financial services profession.
With an ageing adviser population, coupled with consolidation and succession strategies over the past two years, the NTA believes that collaboration will benefit everyone.
Whilst big firms have dedicated academies, small advice firms make up over 80% of the regulated advice sector and even if they’re not planning to recruit new talent, they can still play a key role in promoting the profession and sign-posting new talent to other firms or academies.
The NTA Steering Group is chaired by Tom Hegarty, recently MD of M&G Wealth Advice, previously MD of the SimplyBiz New Model Business Academy and Chair of the Financial Adviser Apprenticeship Standard. The London Institute of Banking and Finance (LIBF) acts as Secretariat for the steering group.
Keith Richards, CEO of the Consumer Duty Alliance commented: “With positive government and regulatory focus brought to bear on addressing the advice gap, FCA adviser statistics suggest that we may instead be heading for an advice crunch. The solution to attract new talent ultimately sits within the gift of the whole sector, which is why we believe there is a need to come together and collectively promote the profession as a career of choice.”
Tom Hegarty added: “We intend to create guides and ‘good practice’ sharing to support firms of all sizes, as well as sign-post to additional support and initiatives across the Alliance. We believe that together we can make positive progress without impacting the importance of diversity, choice and competition. Our overriding purpose is clear - to help firms attract, train, and retain the brightest talent, thereby driving growth, innovation and opportunity across the sector."